Question

# eBook Find the future values of these ordinary annuities. Compounding occurs once a year. Do not...

 eBook Find the future values of these ordinary annuities. Compounding occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent. \$600 per year for 14 years at 16%. \$   \$300 per year for 7 years at 8%. \$   \$200 per year for 7 years at 0%. \$   Rework parts a, b, and c assuming they are annuities due. Future value of \$600 per year for 14 years at 16%: \$   Future value of \$300 per year for 7 years at 8%: \$   Future value of \$200 per year for 7 years at 0%: \$

Future Value Annuity =

r = 0.16

n = 14

=

= 26203.1924526

Future Value Annuity =

r = 0.08

n = 7

=

= 2676.84100788

Future Value Annuity = 200 * 7 = 1400

1st part

Future Value Annuity =

r = 0.16

n = 14

=

= 30395.70

2nd Part

Future Value Annuity =

r = 0.08

n = 7

=

= 2890.99

3rd part

Future Value Annuity = 200 * 7 = 1400

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